The law that regulates the general framework for the establishment and operation of development banks in Romania has been adopted.
Development banks aim to support entrepreneurship, socio-economic and regional development in Romania by promoting investments and facilitating access to finance for eligible beneficiaries in those areas where financial market dysfunctions have been identified, in order to overcome and reduce them by carrying out development activities, in accordance with European Union legislation.
National Bank of Romania is not held responsible for the fulfilment of the development banks’ objectives.
Development banks may be established and operate only on the basis of an authorisation issued by National Bank of Romania.
Establishment and activities of development banks shall be carried out in compliance with state aid legislation. In case of granting financing for development activities to prevent financial market deficit, development banks are obliged to apply the mechanism to prevent crowding out of private financial institutions.